Should we let this one go?

[Naema N.]

Anyone know of any HMLs that are still lending to newbie investors during this time? We went under contract on a property on 3/11 with a HML. Unfortunately just as the everything started to happen of course they backed out and changed many of their requirements. We've tried calling around and many of the HMLs that are still lending are now asking for experience. Starting to wonder if we should just walk away from this deal. The initial closing was supposed to happen 5/1, we have just received the request to extend the contract but worried we may not find the financing in time, considering not resigning the contract.

Where's the help for newbies during this time? How do you get pass being a newbie if the lenders aren't willing to give you a chance? Any advice?

[Alex Deacon]

@Naema N. if you can find a seasoned veteran in the business why not assign the deal to them? If you can make an easy say $5000 assignment fee then go for it. The other alternative is team up with another seasoned veteran and partner up on the deal. They will bring the financing and knowledge and you are bringing the deal. To gain experience by working with a trusted advisor who has done well in the business in priceless.